As with every trading method there are a couple of corner stones that help build a successful trading method. The Fibonacci Trader- Dynamic Balance Point - Metastock Formula creates a trend line for your stock.
You can then use this trend line against the high, low or close to create markers to identify when the trend of the stock is charging and revering direction.
This is an extremely versatile formula as it can be used in both sides of your trading formula, as a buy trade identifier or sell trade identifier.
You can then use this trend line against the high, low or close to create markers to identify when the trend of the stock is charging and revering direction.
This is an extremely versatile formula as it can be used in both sides of your trading formula, as a buy trade identifier or sell trade identifier.
Metastock Indicator and Expert
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((HighestSince(5,DayOfWeek()=DayOfWeek(),H)+LowestSince(5,DayOfWeek()=DayOfWeek(),L)+CLOSE)/3.05)
